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REGISTERED NUMBER: 04976962 (England and Wales)


















G K S PROPERTY COMPANY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






G K S PROPERTY COMPANY LTD (REGISTERED NUMBER: 04976962)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G K S PROPERTY COMPANY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: G Servini
K Servini





SECRETARY: K Servini





REGISTERED OFFICE: Fairways
5a Hollybush Road
Cyncoed
CARDIFF
County of Cardiff
CF23 6SX





REGISTERED NUMBER: 04976962 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

G K S PROPERTY COMPANY LTD (REGISTERED NUMBER: 04976962)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 729 921
Investment property 5 300,000 300,000
300,729 300,921

CURRENT ASSETS
Debtors 6 101 98
Cash at bank 4,230 2,052
4,331 2,150
CREDITORS
Amounts falling due within one year 7 (17,106 ) (16,329 )
NET CURRENT LIABILITIES (12,775 ) (14,179 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

287,954

286,742

CREDITORS
Amounts falling due after more than one year 8 (184,261 ) (194,302 )

PROVISIONS FOR LIABILITIES (139 ) (175 )
NET ASSETS 103,554 92,265

CAPITAL AND RESERVES
Called up share capital 10 100 100
Non-distributable reserve 18,939 18,939
Retained earnings 84,515 73,226
SHAREHOLDERS' FUNDS 103,554 92,265

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

G K S PROPERTY COMPANY LTD (REGISTERED NUMBER: 04976962)

BALANCE SHEET - continued
30 NOVEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by:





G Servini - Director


G K S PROPERTY COMPANY LTD (REGISTERED NUMBER: 04976962)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

G K S Property Company Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

There have been no material departures from Financial Reporting Standard 102 1A.

Going concern
At 30 November 2023 the company had net current liabilities of £12,775. The going concern basis is considered appropriate for the preparation of the financial statements due to the continued financial support of the directors.

Turnover
The turnover shown in the profit and loss account represents rental income receivable for the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings- 25% reducing balance

Investment property
Investment property is included at fair value. Gains are recognised in the profit and loss statement. Deferred taxation is provided on these gains at the rate expected to apply when the asset is sold.

Current tax
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Non-derivative financial instruments
Basic financial instruments are recognised at amortised cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

G K S PROPERTY COMPANY LTD (REGISTERED NUMBER: 04976962)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and
Fittings
£   
COST
At 1 December 2022 16,713
Additions 46
At 30 November 2023 16,759
DEPRECIATION
At 1 December 2022 15,792
Charge for year 238
At 30 November 2023 16,030
NET BOOK VALUE
At 30 November 2023 729
At 30 November 2022 921

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 300,000
NET BOOK VALUE
At 30 November 2023 300,000
At 30 November 2022 300,000

The investment property was valued on a fair value basis at 30 November 2023 by the directors who do not have formal valuation qualifications. In valuing the property, market rental yields of comparable properties in the same area were considered.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments and accrued income 101 98

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loan 13,238 12,785
Corporation tax 2,685 2,361
Accruals and deferred income 1,183 1,183
17,106 16,329

G K S PROPERTY COMPANY LTD (REGISTERED NUMBER: 04976962)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank Loan 101,929 112,867
Directors' current accounts 82,332 81,435
184,261 194,302

Amounts falling due in more than 5 years:

Repayable by installments
Bank Loans44,11357,032
44,11357,032

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan 115,167 125,652

The bank loan is secured by a fixed charge over the investment property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100